Ray Gerald L & Associates Ltd. Reduces Position in Wells Fargo & Company (WFC)
Ray Gerald L & Associates Ltd. reduced its position in shares of Wells Fargo & Company (NYSE:WFC) by 3.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,020 shares of the financial services provider’s stock after selling 1,818 shares during the period. Ray Gerald L & Associates Ltd.’s holdings in Wells Fargo & were worth $3,215,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Boston Partners grew its stake in Wells Fargo & by 140.1% during the 2nd quarter. Boston Partners now owns 19,088,621 shares of the financial services provider’s stock worth $1,057,700,000 after buying an additional 11,139,780 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in Wells Fargo & by 49.5% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 9,713,557 shares of the financial services provider’s stock worth $540,657,000 after buying an additional 3,214,592 shares during the last quarter. APG Asset Management N.V. grew its stake in Wells Fargo & by 38.8% during the 2nd quarter. APG Asset Management N.V. now owns 9,587,279 shares of the financial services provider’s stock worth $531,231,000 after buying an additional 2,681,497 shares during the last quarter. USS Investment Management Ltd grew its stake in Wells Fargo & by 62.7% during the 2nd quarter. USS Investment Management Ltd now owns 6,359,300 shares of the financial services provider’s stock worth $352,464,000 after buying an additional 2,450,000 shares during the last quarter. Finally, Karp Capital Management Corp bought a new position in Wells Fargo & during the 1st quarter worth $90,858,000. 74.88% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently commented on the company. Vetr upgraded Wells Fargo & from a “sell” rating to a “hold” rating and set a $54.49 price objective for the company in a research note on Tuesday, October 24th. Piper Jaffray Companies restated a “neutral” rating and set a $50.00 price objective (down from $52.00) on shares of Wells Fargo & in a research note on Wednesday, September 13th. BidaskClub downgraded Wells Fargo & from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. BMO Capital Markets upgraded Wells Fargo & from an “underperform” rating to a “market perform” rating and lowered their price objective for the stock from $50.00 to $47.00 in a research note on Monday, July 31st. They noted that the move was a valuation call. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $60.00 price target on shares of Wells Fargo & in a research note on Friday, July 28th. Six analysts have rated the stock with a sell rating, fifteen have issued a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $57.20.
Shares of Wells Fargo & Company (NYSE WFC) opened at $54.52 on Wednesday. Wells Fargo & Company has a one year low of $49.27 and a one year high of $59.99. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.89 and a current ratio of 0.91. The firm has a market capitalization of $268,670.00, a PE ratio of 13.08, a PEG ratio of 1.30 and a beta of 0.97.
Wells Fargo & (NYSE:WFC) last posted its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.84 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.20). Wells Fargo & had a return on equity of 12.59% and a net margin of 22.00%. The firm had revenue of $21.93 billion for the quarter, compared to analysts’ expectations of $22.30 billion. During the same period last year, the business earned $1.03 earnings per share. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. equities research analysts anticipate that Wells Fargo & Company will post 3.97 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 3rd will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date is Thursday, November 2nd. Wells Fargo &’s dividend payout ratio (DPR) is presently 40.31%.
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Wells Fargo & Company Profile
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.
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